Brief: PPK Group Announces Conditional Acquisition Of Material Interest In Powerplus

PPK

14/03/2023 03:27

March 14 (Reuters) - PPK Group Ltd  PPK.AX :
    * CONDITIONAL ACQUISITION OF A MATERIAL INTEREST IN
POWERPLUS
    * PPK WILL INITIALLY PAY A$1.8M TO ACQUIRE A 33% INTEREST IN
POWERPLUS ENERGY
    * ENTERED A SERIES OF CONDITIONAL TRANSACTIONS TO ACQUIRE A
MATERIAL INTEREST IN POWERPLUS ENERGY PTY
    * PPK WILL ALSO ADVANCE A$1M IN FUNDS TO ACCELERATE
POWERPLUS
ENERGY'S MANUFACTURING CAPABILITY TO SUPPORT COMPANY'S GROWTH
PLANS
    * EXISTING LOAN FOR JUST UNDER A$2.9M OWED BY POWERPLUS
ENERGY TO
A CONTINUING SHAREHOLDER WILL BE REPAID BY PPK
    * AGREEMENT PROVISIONS FOR CO TO INCREASE INTEREST UP TO 75%
WITHIN TWO YEARS FOR AN ADDITIONAL A$2.8M

Source text for Eikon:  ID:nASXc6Y9Dp 
Further company coverage:  PPK.AX 

 ((Reuters.Briefs@thomsonreuters.com;))